12 USC § 322 - Determination on application

---
identifier: "/us/usc/t12/s322"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 322 - Determination on application"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "322"
section_name: "Determination on application"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "VIII"
subchapter_name: "STATE BANKS AS MEMBERS OF SYSTEM"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 9 (par.), as added June 21, 1917, ch. 32, § 3, 40 Stat. 233; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)"
---


# § 322. Determination on application

In acting upon such applications the Board of Governors of the Federal Reserve System shall consider the financial condition of the applying bank, the general character of its management, and whether or not the corporate powers exercised are consistent with the purposes of this chapter.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 9 (par.), as added June 21, 1917, ch. 32, § 3, 40 Stat. 233; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

## Editorial Notes

### References in Text

This chapter, referred to in text, was in the original “this Act”, meaning , , known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under  and Tables.

### Codification

Section is comprised of the fourth par. of section 9 of act , as amended. The fourth par. constituted the second par. of section 9 in 1917 (), became the third par. in 1927 (), and became the fourth par. in 1950 (). For further details, see Codification note set out under .

## Statutory Notes and Related Subsidiaries

### Change of Name

Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.